A few factors could affect the cost of your surety bond in New York. Bonds with limited risk, like those required for public adjusters, are usually issued instantly without a credit check for a low, flat rate. Bonds with high risk, like those required for auto dealers, typically require underwriting consideration before pricing can be determined.
Underwriters typically offer rates that start at 1-3% of the bond amount. For example, a $25,000 mortgage loan originator bond would cost just $250-$750 provided the applicant qualifies for a standard market.
To determine your exact surety bond cost in New York, you should consult a surety expert. Request your fast and free quote instantly online or by calling 1 (800) 308-4358. SuretyBonds.com works to find the lowest rate available for your needs.